$OM's value collapsed by 90% in less than an hour - resulting in an immediate loss of over $5.5 billion in market value.

Reason for the sell-off:

1. Team resignation:

Reports indicate that the Kabal team behind $OM resigned just before the collapse.

Immediately after this news, more than $590 million worth of OM was moved to exchanges, suggesting a potential large-scale sell-off by insiders.

2. Rumors of supply control:

It is alleged that the team owned 90% of the total supply.

With this concentration of control, the risk of off-market sell-offs and sudden liquidation was alarmingly high. Outcome:

• Airdrop holders were completely wiped out.

• Long-term investors were left to bear the burden.

• The community faced what appears to be an exit liquidity from insiders.

This situation highlights the danger of projects that lack transparency, the fragility of token economies, and centralized supply.